Synovus and Pinnacle combine in $8.6B all-stock merger; 21% EPS accretion expected

SYNOVUS FINANCIAL CORP

All-stock merger valued at $8.6B; Synovus receives 0.5237 shares per Pinnacle share, ~10% premium.
Transaction 21% accretive to 2027 operating EPS; tangible book value earnback period of 2.6 years.
Kevin Blair (Synovus CEO) named President & CEO; Terry Turner (Pinnacle CEO) becomes Chairman.
Combined company to be largest bank in GA and TN, trades as PNFP on NYSE.
Expected close in Q1 2026, subject to shareholder and regulatory approvals.

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